CSC's ONE Month Bank Statement Program

The ONE Month Bank Statement Program

Program Details:

  • Self-employed Borrowers (two-year history required by (i) CPA Letter or (ii) Business License)
  • U.S. residents
  • Income is ATTESTED to and DECLARED; CSC Underwriter to confirm reasonable for job and compare to credit usage / history – deposits into account are not the determinant figure
  • First Time Home Buyers Qualify (see details below)
  • Purchase Max LTV of 75%
  • Refinance Max LTV of 70% (rate and term or cash out)
  • Borrowers with a minimum Credit Score of 650
  • No credit events within the last five (5) years including and mortgage (minimum twenty four (24) month recent mortgage history required)
  • No charge offs, collections, or tax liens in the last three (3) years
  • Maximum loan amount of $5,000,000
  • Minimum loan amount of $150,000
  • Owner-occupied transactions
  • SFR / Condo / Townhouse Property Types
  • Most recent personal account’s bank statement with no NSFs and positive ending statement
  • Closing Funds may come from the account provided for qualifying income and an Escrow Deposit Receipt is required (only one month’s statement is required for assets)
  • Reserve funds are not required
  • Cash out is unlimited, unless otherwise limited specific within CSC’s programs generally
  • Secondary Financing is not allowed
  • Property must be in good condition and conform to the area
  • No rural properties

***First Time Home Buyers ("FTHB")***

  • 70% MAX. LTV/CLTV or 65% for Loans ≥ $1,000,000
  • Loan amounts up to $2,000,000
  • Min. 24-Month rental history